Short-term (20 DMA): Downtrend
3 of 5 major stock market averages remained below their 20-day moving averages. Only the NASDAQ and Russell 2000 remained above this level.

Intermediate (50 DMA): Downtrend
3 of 5 major stock market averages remained below their 50-day moving averages. Only the NASDAQ and S&P 500 remained above this level.

Long-term (200 DMA): Uptrend
All the major stock market averages remained above their 200-day moving averages

COMMENTARY
Price-volume continues to show an uptrend, albeit a weak one, thanks to Friday’s positive performance. That said, we’ve seen several days of high volume selling…one more large drop would be enough to move the markets into a correction.